If any of the stocks that you had given as a collateral moves out of EQ series or if the haircut of the stock increases to 100%, then it becomes ineligible to be a collateral. It will therefore, be removed from pledge and moved to your Demat account. 


Your collateral value will therefore, gets reduced as one of the stocks that you had provided as collateral is now removed.  You will in such a scenario be required to bring in additional funds or other eligible collateral stocks to maintain sufficient margin against the position, if any, you had already taken based on the old collateral value.